European retail specialist Multi Development has signed a shareholders agreement with the municipality of Gdañsk for the development of the Hay and Crayfish Market area near the historical centre of the Polish city.
European retail specialist Multi Development has signed a shareholders agreement with the municipality of Gdañsk for the development of the Hay and Crayfish Market area near the historical centre of the Polish city.
Multi was selected to carry out the project in September 2009, out of a total of 12 developers. The scheme, to be known as Forum Radunia, will provide 45,000 m2 of retail space on a 5.5-hectare site.
'This investment will completely change the Hay and Crayfish Markets. It will change Gdansk itself,' said Pawe³ Adamowicz, mayor of Gdañsk.
Forum Radunia will be realised in two phases, with Phase I including a multi-storey car park and a shopping centre due for completion by 2015/2016. Simultaneously the public works will be conducted including museum building, roads and other infrastructure.
The second phase encompassing the construction of an office park is slated for delivery by 2020.
